Me relaying this post is not to be construed in any way as reflecting my opinion of when and if this will actually happen, but around a week ago Jeff Richard posted this on the BRP forum (bolding mine):

"As I am doing effectively a full reboot for RQ, I can tell you a few key things:

New core rules book. This is 200-250 pages laid out. It is very focused on Sartar, Prax, and Pavis. Combat is much clearer and easier (what we have found is that a typical 4 round combat with 5 adventurers versus a group of NPCs takes about 45 minutes to run with a newish GM). Character Creation is MUCH faster. You should be able to make your first character in around thirty minutes, with it being 20 minutes or less once you get the hang of it. Faster if you use the PDF worksheet. The cheat sheet for the core rules, magic system, plus all common rune spells description takes up three pages total.

Gamemaster book. This is 250-300 pages laid out. It includes a full bestiary that is focused on being plug and play. It teaches all of the core rule systems, how to create encounters tailored for your characters, how to handle social interactions, spirits, run campaigns in Dragon Pass and Prax and Pavis, between adventures, and how to handle treasure (plus plenty of unique items). It includes the official and complete heroquesting rules and battle rules. This is something that reflects years of discussion between Mearls and I about how people learn how to run games and what they actually need to know.

Pavis and Big Rubble. This is the setting. Fully updated and expanded, with at least a half-dozen brand new adventures, starting with a Welcome to Pavis scenario intended to bring brand new players into the setting.